U.S. weighs release of oil reserves, world frets about Iran

QBREES9 · 02-24-2012, 01:26 PM

U.S. weighs release of oil reserves, world frets about Iran - Yahoo! News

SmashMouth · 02-24-2012, 02:04 PM

never makes a difference ...

halloween 65 · 02-24-2012, 02:22 PM

Politics at its best. Chevron has 1 capped well in the Mississippi River Canyon that could supply the entire U.S. for more than 30 years. 1 well. I know I was there on a Dual rig when it was drilled. The working man is going to be kept down. The old saying "The rich keep getting richer" is a very true statement.

saintfan · 02-24-2012, 02:33 PM

The issue isn't supply. The issue isn't really even demand. And the issue isn't really the abilities to refine the stuff. The issue is speculation, or the speculators doing the speculation.

Combine that with the Taxes levied on us per gallon by federal, state, and local governments (which if removed would lower the price damn near a dollar a gallon in most places) and you have the gas price 'problem' in a nice and neat little bundle.

Why Americans don't rise up against this is beyond me.

<-------------------------if you'll look to the left you can clearly see that Zooey agrees with me completely.

SloMotion · 02-24-2012, 05:31 PM

... oh great, $4.00gl gas ... just in time for the boating/fishing season

... but yeah, I'm with Zoey on this one ... I heard somewhere that the oil companies actually only make .10 per gallon profit (?) and the majority of the price of a gallon of fuel is local/state/federal taxes ... of course, that could also just be speculation on my part ...

saintfan · 02-24-2012, 06:27 PM

Originally Posted by SloMotion

... oh great, $4.00gl gas ... just in time for the boating/fishing season ... but yeah, I'm with Zoey on this one ... I heard somewhere that the oil companies actually only make .10 per gallon profit (?) and the majority of the price of a gallon of fuel is local/state/federal taxes ... of course, that could also just be speculation on my part ...

It is a myth that the oil companies are the culprit. That's just a convenient place to put the blame. Drilling is expensive and getting more and more expensive as new wells become more challenging to drill...

The problem (and isn't it always the case) is politics.

02-24-2012, 01:26 PM	#1
QBREES9 Moderator Join Date: Sep 2007 Location: New Haven Ct Posts: 23,989	U.S. weighs release of oil reserves, world frets about Iran U.S. weighs release of oil reserves, world frets about Iran - Yahoo! News

02-24-2012, 02:33 PM	#4
saintfan Donated Plasma Join Date: Jul 2002 Location: San Francisco, CA Posts: 18,556 Blog Entries: 5	The issue isn't supply. The issue isn't really even demand. And the issue isn't really the abilities to refine the stuff. The issue is speculation, or the speculators doing the speculation. Combine that with the Taxes levied on us per gallon by federal, state, and local governments (which if removed would lower the price damn near a dollar a gallon in most places) and you have the gas price 'problem' in a nice and neat little bundle. Why Americans don't rise up against this is beyond me. <-------------------------if you'll look to the left you can clearly see that Zooey agrees with me completely. SloMotion likes this.
	C'mon Man...

02-24-2012, 06:27 PM	#6
saintfan Donated Plasma Join Date: Jul 2002 Location: San Francisco, CA Posts: 18,556 Blog Entries: 5	Originally Posted by SloMotion ... oh great, $4.00gl gas ... just in time for the boating/fishing season ... but yeah, I'm with Zoey on this one ... I heard somewhere that the oil companies actually only make .10 per gallon profit (?) and the majority of the price of a gallon of fuel is local/state/federal taxes ... of course, that could also just be speculation on my part ... It is a myth that the oil companies are the culprit. That's just a convenient place to put the blame. Drilling is expensive and getting more and more expensive as new wells become more challenging to drill... The problem (and isn't it always the case) is politics.

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02-24-2012, 02:04 PM	#2
SmashMouth I donated, did you? Join Date: Sep 2007 Location: Mandeville, LA Posts: 38,475 Blog Entries: 29	never makes a difference ...

02-24-2012, 02:22 PM	#3
halloween 65 5000 POSTS! + Join Date: Sep 2011 Location: Grand Haven, Michigan by way of a little Mississippi River town in Louisiana Posts: 5,893	Politics at its best. Chevron has 1 capped well in the Mississippi River Canyon that could supply the entire U.S. for more than 30 years. 1 well. I know I was there on a Dual rig when it was drilled. The working man is going to be kept down. The old saying "The rich keep getting richer" is a very true statement.

02-24-2012, 05:31 PM	#5
SloMotion 5000 POSTS! + Join Date: Jan 2012 Posts: 6,776 Blog Entries: 15	... oh great, $4.00gl gas ... just in time for the boating/fishing season ... but yeah, I'm with Zoey on this one ... I heard somewhere that the oil companies actually only make .10 per gallon profit (?) and the majority of the price of a gallon of fuel is local/state/federal taxes ... of course, that could also just be speculation on my part ...